CRYPTO FUND 1CONFIRMATION ATTRACTS $60 MILLION
The crypto investment firm, 1confirmation, backed by Mark Cuban, is launching a second round of funding, the WSJ reported.
The WSJ source noted that the Fund hopes to raise another $60 million to invest in cryptocurrency startups in the early stages through a traditional stake in the company, as well as through the purchase of tokens. The first Fund raised $26 million in December 2017, with the support of Mark Cuban, as well as Thiel Capital, Runa Capital and Real Ventures.
1confirmation is not the only Fund, and it has yet to compete for investors’ attention, for example with Pantera, which launches Pantera Venture Fund III and plans to raise $175 million. The 1confirmation Fund, however, also has strengths: it is managed by former Coinbase and Runa Capital employee Nicholas Tomaino, and has only one failed project in the investment portfolio.
Recall that in April last year, billionaire and owner of the professional basketball club Dallas Mavericks Mark Cuban said that he equally hates both gold and bitcoin, as they are not viable alternatives to the national currency. However, skepticism does not prevent him from selling tickets for matches for cryptocurrencies, as well as investing in profitable investment projects.